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Asian stocks opened lower, with Japan slumping in its first trading day of the year, after weak economic data added to anxiety about global growth and Apple Inc.’s sales outlook cut sunk U.S. stocks.

Japanese shares tumbled as traders returned from an extended new-year break, with a slide in Apple suppliers and a rally in the yen weighing on sentiment. Australian stocks fell and Chinese futures pointed to a weaker start. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.3 percent to 10,688.50 as of 6:40 a.m.

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HDFC in its third quarter results said that loan assigned for the quarter stands at Rs 6,959 crore as compared to nil in the corresponding quarter of the previous year. The company also stated that there were no proceeds on account of sale of investments in group companies as compared to last year’s corresponding quarter where it had earned Rs 5,257 crore from the stake sale in the initial public offering of HDFC Standard Life Insurance. Income from dividend stood at Rs 2 crore while in the base quarter is stood at Rs 151 crore, which included Rs 141 crore from HDFC Standard Life Insurance.

Power Grid Corporation’s board approved investment of Rs 267.33 crore for 500 MW Thyristor Controlled Reactor in Haryana and Rs 112.12 crore for communication scheme under the Central sector for Western Region.

NHPC Limited said that shutdown of its Himachal Pradesh Power Station will cause a tentative loss of 35.1 MU in production of electricity 6.5 percent in PAF. The tentative financial loss based on the final tariff determination by Central Electricity Regulatory Commission will be around Rs 30.14 crore, the company stated in its press release. On Dec. 20, the company had intimated complete shutdown for this 520 MW Parbati III Power Station Plant in Himachal Pradesh.

Reliance Communications moved to Supreme Court against Government of India for not clearing spectrum sale to Reliance Jio. The apex court of India will hear the company’s plea on Jan. 7.

Nestle India said that as per their lawyers who appeared in Supreme Court, the apex court has agreed with the company’s contention on Maggi ban case and has set aside both interim orders passed by National Consumer Disputes Redressal Commission, which was challenged by Nestle. In the press release it was also stated that the Supreme Court has directed that reports received from Central Food Technological Research Institute will be the basis for proceedings before the redressal commission.

Sun Pharma’s arm completed the acquisition of 100 percent stake in Japan based Pola Pharma. The share agreement for this transaction was done on Nov. 26.

Vascon Engineers concluded sale of land in Gurgaon and Pune for Rs 50 crore. The management say that sale of these non-core assets will ensure adequate liquidity in the operations.

Torrent Power appointed as Distribution Franchisee for distribution in three sub-divisions under Thane Urban Circle for 20 years. The circle has a customer base of 2.15 lakh and the company under the agreement will distribute electricity to consumers on behalf of Maharashtra State Electricity Distribution Company, and to upgrade infrastructure.

CESC Limited appointed as Distribution Franchisee for Malegaon Municipal Corporation in Maharashtra by the state electricity distribution company.